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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] SK Group has decided to merge its energy subsidiaries, SK Innovation and SK E&S, and will commence a full-scale rebalancing (business restructuring). This merger is expected to create a colossal energy company with total assets exceeding 100 trillion KRW, marking a significant transformation for SK Group.
On the 17th, SK Innovation and SK E&S held board meetings and approved the merger plan between the two companies. The merger will bring together a comprehensive range of energy businesses, from fossil fuels and trading to electric vehicles and renewable energy, forming an energy behemoth valued at over 100 trillion KRW. It will be the largest private energy company in the Asia-Pacific region.
The merger ratio is set at 1 to 1.19, favoring the minority shareholders of the publicly listed SK Innovation. If approved at the shareholder meeting on August 27th, the merged entity will officially launch on November 1st. The major shareholder, SK Inc., will hold a 55.9% stake in the new merged entity.
Additionally, SK Innovation's subsidiaries, SK On, SK Trading International, and SK Entum, have also decided to merge following their respective board meetings. On the 18th, the group's holding company, SK Inc., is set to approve the investment plans for subsidiaries Essencore and SK Materials Airplus into SK Ecoplant at its board meeting.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
